Incomplete markets, continuum of states and default

B-Tier
Journal: Economic Theory
Year: 1997
Volume: 11
Issue: 1
Pages: 205-213

Score contribution per author:

0.670 = (α=2.01 / 3 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

We show that when bankruptcy, subject to penalties, is allowed, it is possible to prove the existence of equilibrium in a model with a continuum of states without imposing any assumptions on ex-post endowments.

Technical Details

RePEc Handle
repec:spr:joecth:v:11:y:1997:i:1:p:205-213
Journal Field
Theory
Author Count
3
Added to Database
2026-01-24